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  #161  
Old Posted Sep 6, 2008, 3:35 PM
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^I like it!
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  #162  
Old Posted Sep 6, 2008, 4:42 PM
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Thats a good looking bridge! We are finally getting some decent bridges in the south.
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  #163  
Old Posted Sep 14, 2008, 4:03 AM
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Originally Posted by tuffaso View Post
I really like this shot here, what a view!



If this gets built this is really going to be awesome. IMO, I think Fort Worth needs a signature tower like this as well.
Man that's an impressive tower congrats to OKC...
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  #164  
Old Posted Nov 4, 2008, 2:43 PM
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It's been a while since anyone has posted an update here...we're all on okmet or okctalk.

Anyway, I thought I'd let folks know about the interesting stance Nichols is taking with the TIF district. Rather than using the TIF funds on his own project, he is suggesting using it to do MAJOR work all over the CBD. It's quite the unselfish deal I would say.

Here's the article from newsok.com

Devon proposal may boost Oklahoma City downtown's upward climb
Comments 21BY STEVE LACKMEYER
Published: November 1, 2008
Larry Nichols is playing for bigger stakes downtown with construction of a new Devon Energy tower.


At a meeting of the committee that oversees downtown’s tax increment finance, or TIF districts, the chief executive officer of Devon Energy pitched his plan for creation of a new district for the $750 million, 54-story tower that could dramatically transform most or all of the downtown area.

The goal, he said, is to create a neighborhood that will attract development of additional corporate headquarters.

Former Mayor Ron Norick, chairman of the TIF district committee, predicted the public will be surprised by the real impact of the new district.

"This changes all of downtown Oklahoma City,” Norick said. "It will have a major impact. Devon building a world headquarters alone will be double what was done with MAPS, and this takes that even further.”


No taxes for towerA new city staff report indicates the proposed district is expected to generate $135 million. In what may be a first for the city’s tax increment financing program, Nichols said he wouldn’t ask for TIF money for the tower, an adjoining new park or for purchase and expansion of the city-owned west City Center garage.
"One hundred percent of this project will be paid for by Devon — it will not be paid by the TIF,” Nichols said. "We’re asking that the TIF be spent to fix up the neighborhood.”

Nichols wants a portion of the TIF to pay for a significant overhaul of the Myriad Gardens that could include adding more open spaces and potentially a restaurant or other amenities. He also suggested the new TIF be used to pay for upgrades to Bicentennial Park, the park in front of City Hall and the Oklahoma City Arts Council campus that hosts the annual Festival of the Arts.

Nichols also wants to see the funding used to "fix up” most or all of downtown’s major corridors. He suggested the committee look at using the proceeds to rebuild streets and sidewalks and potentially add fountains, more landscaping and public art, and to possibly convert Harvey and Hudson Avenues to accommodate two-way traffic.

"Every street downtown could use a significant elevation,” Nichols said.

Nichols also wants TIF dollars used to build an elementary school on an empty lot at Sheridan and Walker Avenues.

"If you put a school near to the art museum, next to Stage Center and next to the Myriad Gardens and have the library a block and a half away ... you would have a great school for a growing population downtown.”


How it would workThe proposed new TIF district would not reduce revenues from the existing downtown TIF district because the future Devon tower site is on a city-owned parking lot. The proposed new TIF would set aside $20 million that could be used on projects in the downtown area for the benefit of Oklahoma City Public Schools, CareerTech, Oklahoma County and the Metropolitan Library System.
No opposition was voiced by committee members during the presentation, and a vote is set for next Friday. The district then must be approved by the Oklahoma City Council.

"This just blows away anything we’ve done in size and scope and will change the face of downtown,” Norick said. "We’re not just looking at a new Devon headquarters, we’re looking at every street and sidewalk and everything you see. We’ve been dealing with TIF proposals for $500,000, maybe $1 million. Now we’re looking at $135 million. It will generate a lot of interest from within and outside our state. The impact will be very apparent.”

------------
Now the elementary school item may now happen. I don't think Nichols remembered that C2S has an elementary school in it as well. Plus we' don't have the downtown population for that yet anyway.
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  #165  
Old Posted Nov 17, 2008, 2:29 AM
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A Quick Rundown of Some Inner City Projects

Academy of Contemporary Music - Opening in the upper floors of one of Bricktown's renovated warehouses, the ACM of London will partner with the University of Central Oklahoma to have programs for aspiring commercial music industry professionals.

Sage Gourmet Cafe and Market - NYC couple opening up an organic grocery/cafe in a 1925 building in Deep Deuce.


credit newsok.com

The Leslie - 24 condo units in Maywood Park, wedged between the new Brownstones and under construction Lofts at Maywood Park. The Leslie will be the cheapest new downtown property with 560sf units at $99,000. The largest units will be 1330sf at $266,000.


credit okctalk.com

Maywood Hall - Another loft project in Maywood Park.


credit newsok

Embassy Suites - 8-Story hotel in the Medical District

Candlewood Suites - 7-story Bricktown hotel



Retail/Food (New/Coming Soon)

Automobile Alley

Wine Merchants
Sara's Cupcakes
Iguana Lounge
Coffee Slingers

CBD

OKC Thunder Store
Envy Clothing

Arts District

Lil Johnson's Mini Mart
Hobby's Hoagies

Bricktown
Bolero Tapas Bar
Pete's Piano Bar
Coyote Ugly
In the Raw Sushi
Lit Clothing
American Banjo Museum

Maywood/Deep Deuce

The Wedge Pizzeria
Sage Cafe and Market

Midtown

Vintage Kitchens
Prairie Thunder Baking Company
McNellie's Irish Pub
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  #166  
Old Posted Dec 4, 2008, 10:49 PM
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And just so people don't think we're stagnant here...

Here's a link to the okc.gov pdf file of the report proposal. It's a SUPER amazing document of information. EVERYTHING is in here from floor plans to facades to anything you want to know. You'll see some recommendations to fail certain ordidance aspects, but those are noted with a variance request....and of course they will get it. Couple that with the TIF proposal improvements.....man oh man.

Devon Tower Report
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  #167  
Old Posted Dec 18, 2008, 3:51 AM
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Devon Tower is Approved

To all you doubters out there: it's a go!

Quote:
Oklahoma City Urban Renewal Authority approves Devon plans
By Pamela Grady - 12/17/2008


On the heels of Oklahoma City's City Council's decision to create a new Downtown tax increment financing district to fund approximately $175 million in public improvements and economic development efforts, which was spurred by Devon Energy’s planned development of a new world headquarters building, Oklahoma City Urban Renewal Authority committee members today approved a proposed redevelopment agreement with Devon World Headquarters LLC to build its $350 million high-rise next to the historic Colcord Hotel.


The project's schematic design studies and evidence of financing also were approved.


“It’s a great pleasure for all of us to be involved in such a spectacular project,” said Dan Batchelor, OCURA's legal counsel. “The location for the proposed Devon World headquarters has long been envisioned as a center piece location for a Downtown redevelopment.”


Devon Realty Advisors Inc. President Klaholt Kimker and Hines Vice President John Wood attended the meeting to update committee members on minimal project design changes.


Wood said the 54-story office tower and podium structures will remain at 1.9 million square feet of space, but because of site constraints, the project's auditorium structure has been shifted from the east side of the site to the west side.


“It sets off kind of its own structure now, and provides a nice framework to the Devon park that will front on Sheridan Avenue,” Wood said. “It'll be very elegant and open and accessible to the public.”


The podium structure will now become a five-story structure instead of its proposed six.


“A key architectural object in all this is the rotunda, which will serve as a unified element in the overall project,” Wood said. “As we brought the podium structure down, the rotunda has remained at six stories, so it really kind of enhances that as an architectural object and makes it more of a beacon, if you will, in the overall competition of the site.”


Site preparation and demolition work is scheduled for fall 2009.


--------------------------------------------------------------------------------
OKCBusiness, Copyright © 2008, All Rights Reserved.


Reminder, Devon has cash on hand for this (tens of billions of dollars, btw), it is not being financed.

The deal was contingent upon the city approving a TIFF district for the Devon Tower property, for the funds generated to improve the neighbourhood (schools, clean up downtown, enhance the Myriad Gardens *urban park, traffic redesign, etc). The TIFF does NOT contribute to construction of the Tower nor Devon directly, only indirectly through 'hood enhancements. None of the TIFF would be used to construct the tower. .. Get this, Devon wants Oklahoma City to tax it's new hq tower, with the money generated used to improve downtown and lure additional business/towers.

Talk about TOP CORPORATE CITIZENS!!! Go Larry Nichols (ceo of Devon Energy).
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  #168  
Old Posted Dec 18, 2008, 5:15 AM
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That's great. Congrats to OKC.
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  #169  
Old Posted Dec 24, 2008, 1:46 AM
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So how's the Devon Tower coming along?
I think it's pretty impressive looking in the renderings, so naturally I'm super excited to see how it will look in real life!
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  #170  
Old Posted Dec 28, 2008, 5:32 AM
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I've driven by downtown countless times, but never really noticed the new urban development on the NE side. I knew there was supposed to be something built there but I didn't realize it was actually happening. There are a decent amount of nice looking residences packed in there. I would really like to see this continue to the other side of I-35. I think downtown OKC itself is great for its size, but I still get a negative feeling about the city when I drive through the huge open fields around the I-35/I-40 interchange. I guess this could be considered "open space", but once you're more than 100 feet from the river its just a turn off, imho. I would like to see some landscaping along the river and then a continuation of this new residential development NE of bricktown to the east side of I-35 and eventually extend it down to the river. Hopefully the core to shore development takes off on the south side. That's exactly the sort of thing I'm looking for.
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  #171  
Old Posted Dec 31, 2008, 1:16 AM
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The "Open space" east of I-35 isn't really in the core and is just rural, undeveloped land. I don't think there's really anything wrong with it and I don't know why it would give a bad impression- just means that part of the metro is not developed. Better than sprawl.

One confusing thing about downtown is the highways, remember that the highway that goes right through downtown between the medical district and the new lofts is actually 235, even though you don't leave I-35 to get on 235. I-35 joins I-40 and heads east, then branches off and heads north parallel to 235.



But yeah, the development I think you're talking about between I-235 and downtown really is very impressive looking at the moment, probably about a thousand of new lofts and condos within just a few blocks.
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  #172  
Old Posted Jan 1, 2009, 9:17 AM
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Im with Soonermeteor, I think the core should be fully developed and shouldn't have any rural areas, unless they are natural or otherwise park or forest areas.

I agree we should have less sprawl, but we don't need to be conservative near downtown. If ANY area of Oklahoma City should be developed to it's full urban potential - it is DOWNTOWN OKC and the inner city.
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  #173  
Old Posted Jan 1, 2009, 5:22 PM
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^^ *shrug* it's just the way natural growth has occurred. Good infill space. and I wouldn't really call anything east of I-35 "the core"
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  #174  
Old Posted Jan 7, 2009, 10:14 PM
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It's a problem that has perplexed a great many leaders in OKC. What to do with the NE corner.
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  #175  
Old Posted Jan 7, 2009, 11:43 PM
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Quote:
Originally Posted by Hot Rod View Post
To all you doubters out there: it's a go!

Reminder, Devon has cash on hand for this (tens of billions of dollars, btw), it is not being financed...
I love this building, but don't go preaching incorrect information. Devon does NOT have "tens of billions" in cash on-hand!!! In fact, according to Devon’s consolidated balance sheet statements, the company reported $35.063 and $41.456 billion in total assets in 2006 & 2007, respectively – and equity of $17.442 and $22.006 billon over the same time periods.

Regarding their cash position, they "only" had $692 million (2006) and $1.364 billion (2007) on-hand, in cash and cash equivalents.

Now, their "official," audited statements will not be released until later this year for 2008, but I don't think that their cash position is going to alter too, too much – it “might” double at best.

Furthermore, where did it definitively say that Devon was not going to finance at least a portion of this tower?

I’ve heard that the tower’s cost ranges between $350 and $750 million. In any case, I really don’t think Devon’s going to throw 26%-56% of their cash (2007) into a real estate development project with little return on investment; at least in the short-to-medium-term.
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  #176  
Old Posted Jan 8, 2009, 12:45 AM
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Quote:
Originally Posted by GoldenBoot View Post
I love this building, but don't go preaching incorrect information. Devon does NOT have "tens of billions" in cash on-hand!!! In fact, according to Devon’s consolidated balance sheet statements, the company reported $35.063 and $41.456 billion in total assets in 2006 & 2007, respectively – and equity of $17.442 and $22.006 billon over the same time periods.

Regarding their cash position, they "only" had $692 million (2006) and $1.364 billion (2007) on-hand, in cash and cash equivalents.

Now, their "official," audited statements will not be released until later this year for 2008, but I don't think that their cash position is going to alter too, too much – it “might” double at best.

Furthermore, where did it definitively say that Devon was not going to finance at least a portion of this tower?

I’ve heard that the tower’s cost ranges between $350 and $750 million. In any case, I really don’t think Devon’s going to throw 26%-56% of their cash (2007) into a real estate development project with little return on investment; at least in the short-to-medium-term.
Tower's revised costs are about 1-1.2 billion. That could go down again with construction prices falling. Hot Rod exaggerated Devon's cash, probably this conception originated in the fact that Devon has in the recent past made quarterly profits large enough to pay for their tower construction in cash (3Q 2008 adjusted net income of 1.4 billion). They will almost certainly finance all or a portion of the building, if not because they financially require it then because it would really help Oklahoma banks that Devon would likely use.

Hot Rod was just trying to point out that if Devon doesn't build the building, it's not because of the national economic situation or Devon's own finances.
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  #177  
Old Posted Jan 13, 2009, 8:12 PM
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Work on the west garage is supposed to start this summer, with tower construction starting in the fall. Tower being pulling out the old structures there and putting in pillars. It will probably be another year and a half before you see some real building there.
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  #178  
Old Posted Jan 13, 2009, 10:31 PM
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^^ I really can't wait! I so badly want to see some walls going up already. At least we will be able to watch the parking garage go up while we wait.

------

In other news, in case anyone reads this for updates:

1) Downtown OKC, Inc has hired Jane Jenkins as director. She is the current chairwoman of the International Downtown Association, current director of Downtown Boulder, Inc., and previous leader in other Main Street communities (including in Oklahoma). The organization manages the business improvement district and promotes residential, office, and entertainment developments as well as markets downtown to potential newcomers. http://downtownokc.com

2) The TIF district created around the new Devon Tower site will also provide $40 million for economic development specifically directed toward luring a major corporation to downtown OKC.
http://newsok.com/tax-district-aims-...ocal-companies

3) Sadly, Kerr McGee spinoff chemical company Tronox has filed for bankruptcy. However, they are taking Anadarko Petroleum to court, since before merging with Anadarko, KMG forced a ton of debts into Tronox. Tronox occupies 100,000 sf of Class A space and 220 employees downtown, so hopefully they will only reorganize and not have layoffs. It's unlikely the company will disappear as it's the world's largest producer of the white pigment chemical it makes.

4) Work on the river inlets in preparation for construction of various boathouses downtown has begun. The plan also includes construction of viewing stands and possibly corporate suites. OKC has been named a USRowing Performance Center site and Olympic training site and large international regattas continue to come to town. An aerial view:


5) Asian District Streetscaping/Gateway

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  #179  
Old Posted Jan 13, 2009, 11:15 PM
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Quote:
Originally Posted by shane453 View Post


5) Asian District Streetscaping/Gateway


How large is OKC's Asian population?

My Algebra teacher is from OKC and shes Asian.
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  #180  
Old Posted Jan 14, 2009, 1:01 AM
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Not a huge Asian population, according to the Census about 22,000 people, just over 4%, and about 10,000 of those are Vietnamese.

Much of the population is centered around the intersection of 23rd and Classen, where original waves of immigrants were taken in by socially conscious OKCitians during the Vietnam War. The area is filled with mostly Vietnamese-owned businesses and professional services, including the notable Super Cao Nguyen market which is a huge specialty grocery store and 2-story retail center. Lee's Sandwiches is a very big new eatery that is set up kind of food court style. When they call your order number they say it Vietnamese and English. Definitely surreal for people who aren't expecting Asian culture in the heart of OKC.

The Asian District itself, which is formerly known as "Little Saigon", is gentrifying (Luxury highrise apartments, swanky jazz bar, flashy modern retail centers) with a good deal of the new construction utilizing Asian-style architecture.
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